PAWAN KUMAR ARORA,NEW DELHI vs. ITO, WARD- 41(5),, NEW DELHI

PER AMIT SHUKLA, J.M.: The aforesaid appeal has been filed by the assessee against the impugned order dated 30.11.2016, passed by Commissioner of Income Tax (Appeals)-XIV, New Delhi in relation to penalty proceedings u/s.271(1)(c) for the Assessment Year 2012-13. In the grounds of appeal

, the Assessee has challenged the levy of penalty of Rs.3,57,27,812/-.

2. In the quantum proceedings, vide order of even date, i.e., 13.02.2020, the appeal of the assessee has been remanded back to the file of the Assessing Officer to decide the issue raised in the grounds of appeal afresh and in accordance with law after giving due and effective opportunity of hearing to the assessee. Thus, penalty levied on the additions made has been set aside for afresh assessment, therefore, penalty imposed on such addition at this stage cannot be sustained and same is deleted. After passing of fresh assessment, Assessing Officer may initiate the penalty proceedings in accordance with law. 3. In the result, the appeal of the assessee is allowed. Order pronounced in the open Court on 13th February, 2020.